Loan Officers Salary
Loan Officers in Watertown-Fort Drum, NY make a median of $81,850 a year, or about $39.35 an hour. The range runs from $53K at the entry level to $173K for experienced workers. Cost of living is below average (RPP 87.69), which stretches that salary to about $93,340 in buying power. Rent on a 2-bedroom averages $1,405/month, or 27.3% of estimated take-home pay.
So what does $82K get you in Watertown-Fort Drum?
Groceries, utilities, transportation, and healthcare scaled from national averages by Watertown-Fort Drum’s Regional Price Parity (87.69). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About loan officers
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What this looks like in Watertown-Fort Drum
Loan officers pay in Watertown-Fort Drum tracks closely to the national median, $82K locally vs. $77K nationwide, a 7% difference. Rent runs $1,405/month for a 2-bedroom (HUD FMR), taking 27.2% of the median take-home. That's within the 30% rule, though not by much. Regional Price Parity sits at 87.69 (national = 100), meaning everyday costs run about 12% cheaper here. Your dollar stretches further than the headline salary suggests. Pay and costs are both near average, leaving limited margin for savings at the median wage.
Compared to nearby metros
Median pay for loan officers in metros near Watertown-Fort Drum, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| New York-Newark-Jersey City | $102K | $90K |
| Buffalo-Cheektowaga | $76K | $79K |
| Albany-Schenectady-Troy | $80K | $80K |
| Rochester | $82K | $85K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Watertown-Fort Drum, NY
Entry-level loan officers (10th percentile) start around $53K. Mid-career wages sit at $82K. Top earners bring in $173K or more, a $119K spread from bottom to top.
Loan Officers pay across states
Median income ranked highest to lowest, compared to the national figure
View Loan Officers salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| Massachusetts | $102K | +32% | 4,470 |
| Connecticut | $96K | +25% | 2,220 |
| New York | $96K | +25% | 10,840 |
| Minnesota | $95K | +24% | 6,430 |
| Colorado | $95K | +23% | 3,230 |
| Oregon | $94K | +23% | 4,220 |
| New Jersey | $93K | +21% | 6,200 |
| District of Columbia | $93K | +21% | 370 |
| Vermont | $89K | +16% | 350 |
| Kansas | $87K | +13% | 3,540 |
| North Dakota | $85K | +10% | 1,370 |
| Iowa | $84K | +9% | 2,840 |
| Delaware | $83K | +8% | 1,420 |
| Maine | $82K | +7% | 1,060 |
| California | $82K | +7% | 25,790 |
| New Hampshire | $81K | +5% | 1,120 |
| Washington | $80K | +4% | 6,040 |
| South Dakota | $80K | +4% | 1,820 |
| Nebraska | $80K | +4% | 2,710 |
| Wyoming | $80K | +4% | 740 |
| Illinois | $79K | +3% | 10,890 |
| Virginia | $78K | +2% | 8,790 |
| Wisconsin | $78K | +2% | 4,940 |
| Rhode Island | $77K | +1% | 1,290 |
| Ohio | $76K | -0% | 9,880 |
| North Carolina | $76K | -1% | 10,700 |
| Michigan | $74K | -3% | 11,340 |
| Missouri | $74K | -4% | 7,050 |
| Maryland | $74K | -4% | 3,850 |
| Oklahoma | $73K | -5% | 4,100 |
| Indiana | $73K | -5% | 4,790 |
| Alaska | $73K | -5% | 490 |
| Montana | $72K | -7% | 1,180 |
| Florida | $71K | -7% | 18,830 |
| Idaho | $71K | -7% | 2,030 |
| Arkansas | $70K | -8% | 2,610 |
| Pennsylvania | $69K | -10% | 8,140 |
| Georgia | $68K | -11% | 9,540 |
| Alabama | $67K | -13% | 5,050 |
| Texas | $66K | -13% | 21,200 |
| Nevada | $65K | -16% | 2,580 |
| Hawaii | $64K | -17% | 980 |
| South Carolina | $63K | -18% | 4,140 |
| Tennessee | $63K | -18% | 6,510 |
| New Mexico | $63K | -18% | 1,140 |
| Arizona | $62K | -19% | 10,020 |
| Kentucky | $62K | -19% | 3,940 |
| Louisiana | $61K | -20% | 2,810 |
| Mississippi | $60K | -21% | 3,450 |
| Utah | $59K | -22% | 3,990 |
| West Virginia | $58K | -25% | 1,290 |
Showing 1–10 of 51 (all 50 states + DC)
Track loan officers salary changes
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Frequently asked questions
Can a loan officer afford a 2BR apartment alone in Watertown-Fort Drum?
Yes — at the median salary of $82K, rent takes 27.2% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,405/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for loan officers in Watertown-Fort Drum?
The 10th-percentile wage — what new loan officers typically earn — is $53K/year. Take-home on that works out to about $3,192/month. At HUD’s $1,405/month FMR, rent would take 44% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is loan officer a high-paying job in Watertown-Fort Drum?
Pay here is roughly in line with the national average — $82K locally vs. $77K nationally, a 7% difference.
How does Watertown-Fort Drum compare to the national average for loan officers?
Watertown-Fort Drum pays $82K median vs. the U.S. average of $77K — that’s +7%. After adjusting for local cost of living (RPP 87.69), the purchasing-power equivalent is $93K — still ahead of the national median.
How much do loan officers make in Watertown-Fort Drum, NY?
The median is $81,850 a year, that works out to about $39 an hour. But the range is wide: entry-level workers start around $53,200, and experienced loan officers can clear $172,550. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $82K enough to live in Watertown-Fort Drum?
On that salary, you'd take home roughly $5,173/month after taxes. A 2-bedroom here rents for about $1,405/month, which eats 27.2% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a loan officers salary go in Watertown-Fort Drum?
Watertown-Fort Drum has a Regional Price Parity of 87.69 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median loan officers salary is worth about $93,340 in national-average purchasing power.
Where do loan officers get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.